Donald Trump proposed a new residency permit system called the “Gold Card” during his presidential term. This scheme would enable wealthy foreigners to acquire American residency by making a $5 million investment. The proposed system aims to replace the current EB-5 Immigrant Investor Program, which provides Green Cards to foreigners investing in U.S. job creation.
What Is A Green Card?
A Green Card grants foreigners permanent residency rights, allowing them to live and work in the United States. Applying for permanent residence under the EB-5 Immigrant Investor Program requires investors to commit at least $800,000 to $1.05 million to U.S. business operations while ensuring the creation and maintenance of at least ten American jobs.
What Is The New Gold Card?
Trump proposed the Gold Card as an alternative to the traditional Green Card system. Foreigners seeking residency could bypass employment requirements by making a $5 million investment. Wealthy foreign investors could benefit from this program, which aims to replace the EB-5 visa by providing an accelerated route toward U.S. residency and citizenship.
Green Card Vs Gold Card Explained
| Feature | Green Card (EB-5) | Gold Card (New Proposal) |
|---|---|---|
| Cost | $800,000 – $1.05 million (investment) | $5 million (direct purchase) |
| Job Creation Requirement | Must create or preserve 10+ jobs | No job creation required |
| Processing Time | Takes months to years | Expected to be much faster |
| Path to Citizenship | Yes, after holding a Green Card for 5 years | Yes, but the timeline is unclear |
| Who Can Apply? | Investors willing to build U.S. businesses | Ultra-wealthy individuals looking for direct residency |
Why Is Trump Introducing The Gold Card?
According to him, this policy would attract wealthy immigrants looking for an expedited pathway to residency. The new EB-5 program under Donald Trump removes job creation requirements, making the application process simpler for all applicants. Trump projected that over one million people would purchase Gold Cards, allowing the U.S. government to generate billions of dollars in revenue.
What Does This Mean For Immigrants?
Wealthy immigrants seeking an easier entry into the U.S. could choose the Gold Card as a faster alternative. People who prefer entrepreneurship through job creation in U.S. businesses may continue to support traditional Green Cards. The long-term economic impact and future changes in immigration policy remain important areas for observation and assessment.
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